National production increased 0.29% in November of 2023

During November of 2023, the national production increased by 0.29%, compared to the same month of the year 2022, due to the result obtained by the Agricultural, Fishing, Mining and Hydrocarbons, Electricity, Gas and Water, Commerce, Transportation, Storage and Courier, Government Service and Other Services. This was informed by the National Institute of Statistics and Informatics (INEI) in the technical report National Production.

On the other hand, it showed an unfavorable behavior the Manufacturing, Construction, Accommodation and Restaurants, Telecommunications and Other Services of Information, Financial and Services rendered to Companies sector. The national economy of January-November of 2023 decreased by 0.57% and during the last 12 months, December 2022 – November 2023, reduced by 0.42%.

The Agricultural sector increased by 1.19% due to the agricultural activity (2.44%); meanwhile, the agricultural production reduced (-0.60%). Among the agricultural products that contributed with this result outstood the following products paprika (98.34%), watermelon (92.92%), artichoke (66.59%), onion (36.06%), grape (27.6%), paddy rice (22.9%) and hard yellow corn (17.83%), before the greater sown area of the crops.

On the other hand, the agricultural products that showed a contractive behavior were: poultry (-1.47%), goat (-1.45%), eggs (-1.27%) and fresh milk (-0.94%), among the main ones.

The Fishing sector increased by 60.96% due to the greater extraction of species of maritime origin (68.90%), with the greater contribution of fishing for indirect human consumption (anchovy for fish meal and fish oil), by reporting a capture of 766,419 tons, against the 311,499 tons of November of 2022. The landing of anchovy corresponded to the second month of the 2nd 2023 Fishing Season (north-center zone).

Likewise, the fishing for direct human consumption grew 3.38% before the greater landing of species for frozen (9.7%) and for consumption in fresh state (2.7%); on the other hand, the preparation of curing (-57.0%) and preparation of canned (-14.0%) decreased. On the other hand, the fishing of continental origin grew 7.27%, associated to the greater capture intended for fresh state consumption.

The Mining and Hydrocarbons sector grew by 8.04% due to the expansion of metallic mining activity by 10.60%, driven by the greater volume of copper (11.7%), molybdenum (19.5%) and gold (9.7%) production. On the other hand, the hydrocarbons subsector decreased by 7.98%, due to the lower volumes of natural gas exploitation (-13.2%), liquids of natural gas (-5.9%) and crude oil (-4.2%).

The Manufacturing sector decreased by 0.51% explained by the lower activity of the non-primary manufacturing subsector (-6.72%); meanwhile the primary manufacturing subsector grew (18.45%). In the result the non -primary subsector contributed the lower level of production in the consumer goods industry (-7.07%) and the industry of intermediate goods (-6.91%); on the other hand, the industry of capital goods grew (33.58%).

In the result of the primary subsector contributed the positive performance of the branches of processing and preserving of fish (56.8%), production of primary products of precious metals (9.0%) and the production of products of petroleum refining (10.3%). Nevertheless, it contracted the branch of sugar processing (-2.9%); as well as the preparation and conservation of meat (-0.2%).

The Electricity, Gas and Water sector increased by 0.69% due to the greater generation of electrical power (0.61%), water production (1.08%) and gas distribution (1.62%). The electricity subsector was driven by the greater generation of hydroelectric energy (24.0%) and the non-conventional renewable energy (69.9%); on the other hand, the thermoelectric energy reduced (-19.1%).

In the positive result the water subsector contributed with the greater volume of potable water production of the following companies EPS Grau (7.5%), Sedapal (2.2%), Seda Chimbote (1.9%) and Epsel (1.7%). The gas distribution grew due to the greater shipments to commercialization establishments of Vehicular Natural Gas (9.4%) and to companies (1.8%); on the other hand, the distribution to electric generators decreased (-1.6%).

The Construction sector contracted by 8.05% reflected in the low domestic cement consumption (-8.37%) and the low physical progress of public works (-7.80%). The lower domestic cement consumption was linked to the lower private investment in construction, as well as self-construction.

The contraction of physical progress of public works in the Local Government area (-32.0%), was partially counterbalanced by the investment at National (36.9%) and Regional (6.3%) level. Regarding this mater there were affected the road infrastructure and basic services projects. Meanwhile, the construction of non-residential buildings construction and works of risks prevention grew.

The commerce sector increased by 1.30% due to the wholesale commerce (1.69%), outstanding the sale of fuel, foods, beverages and tobacco due to greater rotation of food, carbonated beverages and waters, due to the advancement of the summer season and Christmas campaign, machinery and equipment for mining, construction and sanitation sectors; as well as the health sector due to public-private tenders and measures intended to face the Phenomenon El Niño.

In addition, the retail sale grew (1.73%) due to the greater sale of agro-chemical, veterinarian and optical products, to which it was added the greater demand of fuel in gas station and self- services stations, computers and telecommunications equipment due to increase of tenders. Meanwhile, the sale and repair of vehicles (-3.77%) decrease due to lower demand.

The INEI informed that Transportation, Storage, and Courier sector increased by 1.45% influenced by the transportation subsector (3.64%); meanwhile, the storage and courier subsector decreased (-4.15%).

The positive result of the transportation subsector was associated to the air transportation (8.89%), due to greater traffic of passengers at national and international level. At the same time, it influenced the transportation by land and pipelines (1.97%), due to the greater transportation by road (2.2%), of passengers and of load, and due to the increase of transportation by rail (17.8%), both of passengers and load. Likewise, the transportation by waterways grew (6.89%). The contraction of storage and courier subsector was due to the lower storage Service and support activities to the transportation (-4,27%), as well as postal and Courier activities (-2.09%).

During November of 2023, the Accommodation and Restaurants sector reduced by 0.03% due to the behavior of the restaurant subsector (-0.74%); nevertheless, the accommodation subsector grew (7.17%).

The result of the restaurants subsector was explained by the lower quantity of customers attending the establishments, the reduction of the opening hours and the citizen insecurity in different districts of the country, with greater incidence in the north region. In the restaurants group (-1.22%) there were mostly affected the establishments of meats and grills, touristic restaurants, Cevicherias (seafood restaurants), Pollerias (Grilled chicken restaurant) coffee-restaurants; among others. Likewise, the beverage service decreased (-0.58%). On the other hand, the other services of food (0.78%) and catering services (2.36%). activities grew.

Telecommunications and Other Information services reduced in 4.47% due to the negative behavior of the telecommunications (-4.41%) and other information services (-4.93%).

The telecommunications subsector influenced in the drop of data transmission services (-23.1%) and telephone services (-6.2%); on the other hand, the Internet services and television subscription services grew (0.2%). The negative behavior of the other information subsector was associated to the lower activity of edition (-8.2%), television and radio programming (-7.9%), production and film show and TV programs (-6.4%), as well as computer programming (-0.7%).

The Financial and Insurance sector reduced in 5.25%, due to the lower credits (-5.63%) and deposits (-2.65%) of the multiple banking. According to destination segment, the credits targeted to big, medium, small and micro-companies decreased (-10.6%); meanwhile, the consumption credits (5.2%) and the mortgage credits (1.4%) increased.

Therefore, lower credits to commerce, manufacturing, real state, business and rent, agriculture, livestock, hunt and forestry, electricity and water and construction activities were channeled. The same trend showed the deposits of multiple banking, in the areas of Compensation for Time Service (-17.3%), saving deposits (-14.3%) and demand deposits (-7.6%), meanwhile, long-term deposits grew (18.5%).

Services Rendered to Companies decreased in 0.92% due to the contraction of travel agencies and tour operators (-10.8%), activities of administrative service and support (-1.2%), professional, scientific and technical activities, (-1.0%). Nevertheless, advertising and market research registered a growth (4.0%). Travel agencies and tour operators decreased due to the lower reservation of tickets and touristic packages, reduced sale of organized travels, both for vacation and corporative area.

The activities of administrative services and support registered lower contracts of surveillance, personal safety, value transfer, lower request of recruitment and selection of temporary and permanent personnel and termination of contracts of cleaning for buildings, offices and shopping centers.

The same behavior presented the professional, scientific and technical activities due to the lower execution of engineering, construction and mining, advising and technical studies due to termination of contracts, stoppage of Works and lower participation in tenders. On the other hand, advertising and market research grew to the launch of traditional and digital advertising campaigns, marketing in social media, rent of panels for season and in advance to 2023 end of the year celebration.

During November of 2023, Government Services increased by 3.30%, based on the greater services rendered by the institutions of Public Administration (3.3%), Defense (3.5%) and Other Government Services (3.6%).